.png){kind=logo}
India has seen a ten times growth in number of domestic tourists, international tourism yet to recover
India has seen a ten times growth in number of domestic tourists from 270 million in 2002 to 2,322 million in 2020, according to a report by Anand Rathi Investment Banking (ARIB). The report also noted the Indian travel and tourism industry is expected to grow at ~16% CAGR (Compound annual growth rate) from 2020 to $512 billion by 2029. The number of foreign visitors to India has also risen by four times to 11 million in 2019. However, the international tourism has not yet recovered owing to curbs on international flights to India. It is expected to resume from end-March 2022. “Indian travel and tourism industry is the seventh largest in the world with a market size of $121.9 billion in 2020 and contributed 4.6% to the country’s GDP in 2020, as against $194.3 billion in 2019 – a decline primarily led by covid-19 pandemic restrictions,” reads the report.
The study has also highlighted that India has the potential to become a global adventure tourism hub because of its diverse natural beauty. The country has 7,000 km of coastline, deserts and 70% of the Himalayan mountain ranges, offering unique experiences to adventure tourists. India’s adventure tourism market was valued at $0.3 billion in 2019, including contributions from domestic and foreign tourists. With over 20% growth a year, the market is expected to increase to ~$2.0 billion in 2028. To promote adventure tourism in the country, the government has started offering separate licenses to adventure-tour operators with the requisite expertise and experience to cater to customer demands. India’s eco-tourism market is projected to touch $11.6 billion by 2028, a 20% growth. Currently, India has about 106 national parks and 564 wildlife sanctuaries across 44,372 sq. km. which preserve wildlife resources in India.
The government is planning to set up another 75 national parks of ~16,600 sq. km. “The central government is also developing nine projects as part of eco-tourism circuits comprising national parks, wildlife sanctuaries, bird parks and flora and fauna across India,” reads the study.
Also read: Coorg: Coffee plantation tour (travellernook.com)